When purchasing a product or a service, it is imperative to find a company that has a strong mission statement. A mission-driven company will give you a superior product or service and will help you feel better about the social impact of your purchase. Look at these six reasons why you should only buy from a company with a strong statement about why it exists.
1. It Instills Trust
When employees trust the company they work for, they are more likely to stay with that company. 84% of employees have higher trust in a company with a mission statement. This greater trust factor leads to experienced employees who in turn allow the company to perform 2.5 times better than companies without a mission statement.
2. It Directs Energy
Everyone has experienced being pulled in too many directions at the same time. When this happens, it is impossible to focus on one goal and complete it well. Companies without a mission statement lack focus on the main goals of their company and waste time and resources on projects that don’t improve the quality of their work or service. This leads to merchandise that is poorly made and more expensive. When you buy from a company that directs its energy on making a superior product at the lowest cost, you can feel confident that you are getting something of quality. Tony Horton exemplifies this focus with his mission, which states, “his mission is to shatter the concept that we have to slow down because of our age.”
3. It Ensures a Future
Strong companies where every employee knows and believes in what the company stands for, last for generations. You can count on these companies to fulfill warranties for its products and provide long-lasting service for its customers. These are the companies that won’t leave you stranded in a sea of empty promises. A good example of longevity is reflected in American Expresses and its mission statement, “provide the world’s best customer experience every day.” It is short and to the point but it has stood the test of time.
4. It Encourages Culture
There is nothing more refreshing in the business world than interacting with an employee who truly enjoys his or her job. Employees with that kind of attitude don’t just happen, they are a product of good company culture. A company can develop that culture by including its core values in its mission statement and then recruiting high-quality people who line up with those values. Happy company representatives enhance the customer’s experience.
5. It Maintains Consistency
As stated earlier, some companies can last for decades. But even if a company keeps its longevity, the quality of its product can wax and wane. If you are buying a vehicle, you don’t want to be disappointed by buying from a company that USED to have high performing vehicles. You want a car from a company that consistently produces dependable, quality vehicles. You want to buy from a car company with a clear statement about maintaining the quality of what it produces.
6. It Steers Action
Companies are judged not on the words that they say but on the actions they take. The difficulty is that coordinated actions don’t just materialize on their own. They require vision, direction and communication. When looking for a company that performs with your best interests in mind, you want a company that is not just making decisions on a whim. You want a company with a well thought out plan so that the actions its employees take improve your life. Tesla is a good example of action motivated by a vision, when it states, “Tesla’s mission is to accelerate the world’s transition to sustainable energy.”
Good vision statements breed motivated companies to improve the lives of their customers. To ensure you are getting the most value from what you purchase, you must find a company that does the same.